Catastrophe modeling firm AIR Worldwide, a risk modeling software and consulting services, says third-party suppliers have chosen to provide their data and models through Touchstone. Those suppliers include Ambiental, ERN, EuroTempest, IHS Inc., KatRisk, Met Office, PERILS and SSBN. AIR is a member of the Verisk Insurance Solutions group at Verisk Analytics.
Touchstone creates an open platform for insurers and reinsurers to manage their exposures and catastrophe risk, AIR said. This integration is designed to enable users to assess and manage risk across flood, terrorism, earthquake, tropical cyclone and other perils.
In addition to continuing discussions with other third-party data and model providers, AIR also is cementing links and enabling closer integration with other major industry organizations, such as the Global Earthquake Model (GEM) and PERILS, said AIR. GEM is developing an open-source platform for sharing data, models and knowledge about seismic risk assessment. Additionally, PERILS and AIR already allow their mutual clients to integrate the PERILS Industry Exposure Database (IED) and event sets generated using this IED.
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